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NPLs down by €7 million in May 2021, the NPL index stands at 18%

25/08/2021 14:19

The Central Bank of Cyprus has today published data showing the evolution of the aggregate non-performing loans (NPLs) and related indicators for all credit institutions operating in Cyprus (domestic operations only) on a consolidated basis with Non-Performing Loans (NPLs) standing at € 5,134 million from € 5,141 million last month.

The aggregate consolidated financial data for the Cyprus banking sector, are compiled on a quarterly basis according to the supervisory reporting frameworks FINREP (Financial Reporting) and COREP (Common Reporting).

Non-Performing Loans (NPLs) stood at € 5,134 million from € 5,141 million last month, in the banking system at the end of May 2021, showing a decrease of approximately € 7 million.

However, the non-performing loans remained at 18.1% of total loans with the total accumulated impairment (provisions) increasing to 47.6%.

At the end of 2020, NPLs were estimated at €5,111 million and in 2019 at €8,972 million.

According to the Central Bank,  total loans at the end of May stood at € 28,419 million, from € 28,445 million at the end of the previous month, while total loans with amounts past due over 90 days were € 3,956 million or 13.9%, compared to €3,921 million at the end of April 2021.

Total restructured loans amount to € 3,833 of which €2,311 continue to be classified as non-performing loans.

In addition, total accumulated impairment (provisions) were estimated at the end of May to be €2,618 million or 47.6%, from €2,598 million or 47.2% of April 2021.